NCUA Board approves changes to Member Business Lending Rule

Federally insured credit unions will no longer have to count loans made on any 1-to-4-unit family dwellings as member business loans after a vote by the National Credit Union Administration Board.

As such, these loans will not count towards the aggregate member business loan cap imposed on each federally insured credit union.

The final rule, available online here, will become effective upon publication in the Federal Register.